China and Denmark to boost trade in green technologies
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Denmark and China will increase their trade in the green technology sector to boost commercial ties in energy efficiency, environmental protection and sustainable urban development.
The “green technology agreement” that will bring about this increased green tech trade was signed last week in Denmark during Chinese President Hu Jintao's three-day state visit to that country.
Denmark noted that both countries will establish a working group with participants from both the public and private sector to promote trade and reduce market barriers in the green technology sector.
"China is expected to be the world's biggest market in 2014 for sustainable energy and already today is the biggest for wind power," the Danish foreign ministry said.
Denmark was the former world leader in wind energy until eclipsed by China. About a fourth of Denmark’s energy currently comes from wind power. Denmark is also home to the world's largest wind turbine manufacturer, Vestas Wind Systems A/S.
The Chinese government recently said it would spend US$27 billion on green technology this year, including subsidies to boost consumption of energy-saving household electrical appliances.
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